Whole Foods can’t shake pricey reputation

Austin, Texas-based Whole Foods Market still has the highest prices despite its latest round of price cuts in April.

Walmart continues to have the lowest overall prices, with a momentum that will likely be unaffected by Whole Foods’ price cuts, Bank of America Merrill Lynch analysts wrote in a Tuesday report, according to CNBC.

“We continue to believe that Amazon is not having an impact on Walmart’s grocery momentum,” Bank of America analyst Robert Ohmes said, according to CNBC.

However, Kroger narrowed its gap with Walmart with an average premium of 7%, according to the report. Sprouts Farmers Market had an average premium of 8%, while Whole Foods prices were the highest at 34% above Walmart, which is a percentage point higher than the previous three years of studies, CNBC reported.

To read the CNBC article, click here.